Hyundai to shift from conquest to repeat business in 2014

Article by Anita Panait, on December 13, 2013

While Hyundai is aiming to post sales growth in Europe in 2014, the South Korean carmaker will not seek to retain its market share at all costs, according to Allan Rushforth, the brand’s chief operating officer for the region. Rushfort said that Hyundai’s sales growth in Europe will be limited as the carmaker’s strategy highlights gaining repeat business, shifting from its previous mode of being a conquest brand.

He said that they would achieve that by expanding vehicle financing that encourages customers to return. The carmaker intends to hike sales in line with an expected 3 percent recovery in growth in the European market in 2014, Rushforth said, noting that 2013 was a year of transition for the Hyundai brand, as investments in production and other operations are "starting to deliver positive results."

He said that Hyundai’s main aim is to continue enhancing the quality of their operations, “even if it means we are not able to sustain our market share." He expects the European vehicle market to remain a "competitive environment in the months to come."

Hyundai Europe President Byung Kwon Rim quipped that for Hyundai to become a top global brand, it has first to become a top European brand. He remarked that Hyundai is now a European carmaker, with an intention to become more committed to Europe. Hyundai expects a new version of the i10 minicar to help boost sales in 2014.

The i10 features a more spacious interior and tighter suspension than its predecessor. It started arriving at dealerships in November following its debut at the Frankfurt auto show in September. According to Rushfort, Hyundai may also introduce up to 1,000 of the new Genesis sedan in Europe next year.

 In October, Hyundai disclosed plans to offer new Genesis large sedan in Europe in 2014, thereby taking on BMW, Mercedes and Audi on their home turf. Hyundai is planning to offer 22 new or updated models by 2017 to achieve a 5 percent market share in Europe by 2020.

Topics: hyundai

If you liked the article, share on:

Comments

Recommended

Volkswagen of America has a nice surprise for potential customers of the new VW Tiguan (2018 model year). The latest iteration of the Tiguan – set to arrive in the...
by - May 25, 2017
Toyota Camry is many things but exciting isn’t one of its frequent descriptions. That’s why throughout the years, Toyota has been stepping up its game for the said model in...
by - May 25, 2017
Volkswagen intends to leave the crowd in awe at the Worthersee Meeting (Wortherseetreffen) – the largest VW and Audi car show in Europe – with its new GTI Worthersee concept. ...
by - May 25, 2017
The much-hyped 2018 Dodge Challenger SRT Demon certainly has attracted a lot of attention, and possibly many potential buyers. Now, here is good news for interested customers: Dodge has finally...
by - May 25, 2017
An RHD (right hand drive) BMW M4 DTM Champion Edition has been listed to be for sale by Romans International, UK’s leading supercar dealership. The first owner of this rare...
by - May 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries